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Ford Ousts Chief Executive

Yesterday, the Ford Motor Co. replaced its chief executive Mark Fields and brought in the former Steelcase chief Jim Hackett to assume the position. This is in an effort to fight with recent stock losses and to move forward the advancements like self-driving cars. During Mr. Field’s there-year tenure, the company saw a 40 percent drop in its stocks. Mr. Hackett joined the company last year as the head of its “smart mobility” operation, which focuses on autonomous vehicle technology. Ford is struggling to keep pace with its larger rivals such as General Motors and as well as newcomers like Tesla and Google, especially in the sectors like driverless vehicles technology.